Hi Experts, Is the Bihar professional tax deduction monthly or yearly? In the month of October, professional tax will be deducted as per the below slabs. Please guide:
1. Persons whose income exceeds three lakh rupees per annum but does not exceed five lakh rupees per annum - One thousand rupees per annum.
2. Persons whose income exceeds five lakh rupees per annum but does not exceed ten lakh rupees per annum - Two thousand rupees per annum.
3. Persons whose income exceeds ten lakh rupees per annum - Two thousand and five hundred rupees per annum.
Thanks and Regards,
Ratan
From India, Delhi
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1. Persons whose income exceeds three lakh rupees per annum but does not exceed five lakh rupees per annum - One thousand rupees per annum.
2. Persons whose income exceeds five lakh rupees per annum but does not exceed ten lakh rupees per annum - Two thousand rupees per annum.
3. Persons whose income exceeds ten lakh rupees per annum - Two thousand and five hundred rupees per annum.
Thanks and Regards,
Ratan
From India, Delhi
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As per the new legal change, Professional Tax has been implemented for the state of Bihar. For Professional Tax computation, new slabs and corresponding deduction amounts have been introduced based on Annual Basis Computation. Professional Tax Basis is computed (using projection) in the month of September, and subsequently, Professional Tax deductions are made in the same month.
Regards, Ratan
From India, Delhi
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Regards, Ratan
From India, Delhi
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Professional tax hyderabad.doc
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